Nonprofit · EIN 37-2045526
SALEM ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · SALEM, SD 57058
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $357,936 | $14,273 | $343,663 | $1,525,581 | $345,000 | $1,180,581 |
| December 31, 2024 | 990 | $271,541 | $239,278 | $32,263 | $836,918 | $0 | $836,918 |
| December 31, 2023 | 990 | $145,123 | $138,992 | $6,131 | $811,160 | $6,505 | $804,655 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $332,648
- of which government grants
- $308,501
- Program service revenue
- $0
- Investment income
- $288
- Other revenue
- $25,000
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $797
- Program services (functional)
- $3,510
- Management and general (functional)
- $10,763
Balance sheet and other
- Total assets, start of year
- $836,918
- Total assets, end of year
- $1,525,581
- Total liabilities, end of year
- $345,000
- Net assets, end of year
- $1,180,581
- Net assets without donor restrictions
- $1,180,581
- Gross receipts
- $357,936
- Employees
- 0
- Volunteers
- 7
- Year formed
- 2022
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DEBRA CHEESEMAN | DIRECTOR Trustee or director | 1 | $0 |
| JEREMY GRADY | PRESIDENT Trustee or director, Officer | 1 | $0 |
| BRAD KRANZ | DIRECTOR Trustee or director | 1 | $0 |
| KEITH PAULSON | DIRECTOR Trustee or director | 1 | $0 |
| MITCH RAYMAN | VICE PRESIDE Trustee or director, Officer | 1 | $0 |
| LOGAN ROTH | TREASURER/SE Trustee or director, Officer | 1 | $0 |
| CARLA SNYDERS | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DEBRA CHEESEMAN | DIRECTOR Trustee or director | 1 | $0 |
| JEREMY GRADY | PRESIDENT Trustee or director, Officer | 1 | $0 |
| BRAD KRANZ | DIRECTOR Trustee or director | 1 | $0 |
| KEITH PAULSON | DIRECTOR Trustee or director | 1 | $0 |
| MITCH RAYMAN | VICE PRESIDE Trustee or director, Officer | 1 | $0 |
| LOGAN ROTH | TREASURER/SE Trustee or director, Officer | 1 | $0 |
| CARLA SNYDERS | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DEBRA CHEESEMAN | DIRECTOR Trustee or director | 1 | $0 |
| JEREMY GRADY | PRESIDENT Trustee or director, Officer | 1 | $0 |
| BRAD KRANZ | DIRECTOR Trustee or director | 1 | $0 |
| KEITH PAULSON | DIRECTOR Trustee or director | 1 | $0 |
| MITCH RAYMAN | VICE PRESIDE Trustee or director, Officer | 1 | $0 |
| LOGAN ROTH | TREASURER/SE Trustee or director, Officer | 1 | $0 |
| CARLA SNYDERS | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 400 N MAIN ST, SALEM, SD 57058-8855
- Principal officer (990 for 2025)
- LOGAN ROTH
- Signed the 990
- LOGAN ROTH, TREASURER/SECRETARY
- Phone
- (605) 929-5982
- Return prepared by
- ELO PROF LLC
Mission
TO ASSIST AND FURTHER THE ECONOMIC DEVELOPMENT OF SALEM, SD AND ITS ENVIRONS, AND TO PROMOTE AND ASSIST IN THE GROWTH AND DEVELOPMENT OF SMALL BUSIENSSES IN THE AREA.
Program accomplishments
- TO PROMOTE GROWTH AND BUSINESS DEVELOPMENT IS SALEM, SD AND THE SURROUNDING AREAExpenses $3,510 · revenue $25,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 37-2045526
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S32)
- Assets (IRS master file)
- $1,525,581
- Income (IRS master file)
- $357,936
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $357,936 | $14,273 | $1,525,581 | XML |
| 990 | December 2024 | $271,541 | $239,278 | $836,918 | XML |
| 990 | December 2023 | $145,123 | $138,992 | $811,160 | XML |
| 990 | December 2022 | $284,876 | $1,352 | $798,524 | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 37-2045526).
Questions about SALEM ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of SALEM ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of SALEM ECONOMIC DEVELOPMENT CORPORATION is 37-2045526.
- Is SALEM ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to SALEM ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SALEM ECONOMIC DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SALEM ECONOMIC DEVELOPMENT CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SALEM ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of SALEM ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 names LOGAN ROTH.
- Who are the officers and directors of SALEM ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 lists 7 people; 0 received compensation from the organization.
- How much revenue does SALEM ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $357,936, expenses of $14,273 and total assets of $1,525,581 at year end.
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- SALEM YOUTH ACTIVITIES CORPORATION EIN 23-7010357 · last filed 990-N for 2025
- PROGRESSIVE SALEM ASSOCIATION EIN 36-3872794 · last filed 990-N for 2025
- AMERICAN LEGION AUXILIARY EIN 46-6015098 · last filed 990-N for 2023
- MONTROSE MUSIC FESTIVAL EIN 99-3141824 · last filed 990-N for 2025
- MCCOOK COUNTY PRO PHEASANTS EIN 80-0282969 · last filed 990-N for 2023
- MCCOOK COUNTY FOOD PANTRY EIN 82-1402092 · last filed 990-N for 2023
All nonprofits in SALEM · South Dakota · Community improvement and capacity building